Self-driving company Mobileye's quarterly revenue exceeded expectations, and analysts say it will benefit from polar krypton cars.

CTOnews.com, July 27 (Xinhua)-- Israel-based self-driving technology company Mobileye today reported second-quarter revenue of $454 million (CTOnews.com Note: currently about 3.246 billion yuan), up from analysts' expectations of $450.6 million (currently about 3.222 billion yuan).

▲ Touyuan Mobileye official website Mobileye, whose current customers include BMW, Nissan and Volkswagen, also offset the current weakness in the Chinese market, thanks to strong demand for its driving skills in North America and Europe, which beat expectations in the second quarter.

Analysts say Mobileye shipments in 2023-24 will be driven mainly by Geely's Polar Krypton, but Mobileye's ongoing channel expansion could also be a positive catalyst for its performance.

Mobileye shares rose 2 per cent in pre-market trading on the news.

As previously reported by CTOnews.com, Mobileye recently announced in Jerusalem the launch of the world's first gauge-class pure visual intelligent speed assistance (Intelligent Speed Assist) solution. Officials say this is the first solution that meets the requirements of new EU regulations and is scheduled for mass production in the fourth quarter of this year.